Dictionary entry details
• ACCOUNTING (noun)
Meaning:
A convincing explanation that reveals basic causes
Classified under:
Nouns denoting communicative processes and contents
Context example:
he was unable to give a clear accounting for his actions
Hypernyms ("accounting" is a kind of...):
account; explanation (a statement that makes something comprehensible by describing the relevant structure or operation or circumstances etc.)
Meaning:
A system that provides quantitative information about finances
Classified under:
Nouns denoting cognitive processes and contents
Hypernyms ("accounting" is a kind of...):
system; system of rules (a complex of methods or rules governing behavior)
Domain member category:
unbalanced (debits and credits are not equal)
balanced (total debits and credits are equal)
debit (enter as debit)
inventory ((accounting) the value of a firm's current assets including raw materials and work in progress and finished goods)
limited review; review ((accounting) a service (less exhaustive than an audit) that provides some assurance to interested parties as to the reliability of financial data)
good will; goodwill ((accounting) an intangible asset valued according to the advantage or reputation a business has acquired (over and above its tangible assets))
write-down; write-off ((accounting) reduction in the book value of an asset)
straight-line method; straight-line method of depreciation ((accounting) a method of calculating depreciation by taking an equal amount of the asset's cost as an expense for each year of the asset's useful life)
unearned income; unearned revenue ((accounting) income received but not yet earned (usually considered a current liability on a company's balance sheet))
internal control (an accounting procedure or system designed to promote efficiency or assure the implementation of a policy or safeguard assets or avoid fraud and error etc.)
Hyponyms (each of the following is a kind of "accounting"):
balance of international payments; balance of payments (a system of recording all of a country's economic transactions with the rest of the world over a period of one year)
current account (that part of the balance of payments recording a nation's exports and imports of goods and services and transfer payments)
Meaning:
The occupation of maintaining and auditing records and preparing financial reports for a business
Classified under:
Nouns denoting acts or actions
Synonyms:
accountancy; accounting
Hypernyms ("accounting" is a kind of...):
business; job; line; line of work; occupation (the principal activity in your life that you do to earn money)
Domain member category:
carry forward; carry over (transfer from one time period to the next)
Hyponyms (each of the following is a kind of "accounting"):
cost accounting (keeping account of the costs of items in production)
bookkeeping; clerking (the activity of recording business transactions)
inventory accounting (accounting that controls and evaluates inventory)
Meaning:
A bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts
Classified under:
Nouns denoting possession and transfer of possession
Synonyms:
accounting system; method of accounting; accounting
Hypernyms ("accounting" is a kind of...):
register (a book in which names and transactions are listed)
Hyponyms (each of the following is a kind of "accounting"):
audit; audited account (an inspection of the accounting procedures and records by a trained accountant or CPA)
pooling of interest (an accounting method used in the merging of companies; the balance sheets are added together item by item; this method is tax-free)
cash basis (a method of accounting in which each item is entered as payments are received or made)
accrual basis (a method of accounting in which each item is entered as it is earned or incurred regardless of when actual payments are received or made)
debit side (account of payments owed; usually the left side of a financial statement)
credit side (account of payments received; usually the right side of a financial statement)
accounting entry; entry; ledger entry (a written record of a commercial transaction)
control account (an account that shows totals of amounts entered in a subsidiary ledger)
limited review; review ((accounting) a service (less exhaustive than an audit) that provides some assurance to interested parties as to the reliability of financial data)
Holonyms ("accounting" is a member of...):
account book; book; book of account; ledger; leger (a record in which commercial accounts are recorded)
Meaning:
A statement of recent transactions and the resulting balance
Classified under:
Nouns denoting possession and transfer of possession
Synonyms:
account statement; account; accounting
Context example:
they send me an accounting every month
Hypernyms ("accounting" is a kind of...):
financial statement; statement (a document showing credits and debits)
Meronyms (parts of "accounting"):
balance (equality between the totals of the credit and debit sides of an account)
Hyponyms (each of the following is a kind of "accounting"):
expense account; travel and entertainment account (an account to which salespersons or executives can charge travel and entertainment expenses)
suspense account (an account used temporarily to carry doubtful receipts and disbursements or discrepancies pending their analysis and permanent classification)
profit and loss; profit and loss account (an account compiled at the end of an accounting period to show gross and net profit or loss)
capital account ((economics) that part of the balance of payments recording a nation's outflow and inflow of financial securities)
capital account ((finance) an account of the net value of a business at a specified date)
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